Friday , October 20 2017

Indices continue positive performance

Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,107.68 points, up by 4.74% from the week before closing, the Weighted Index increased by 1.87% after closing at 392.06 points, whereas the KSX-15 Index closed at 908.68 points up by 1.16%. Furthermore, the week’s average daily turnover increased by 95.51%, compared to the preceding week, reaching KD 39.46 million, whereas trading volume average was 551.06 million shares, recording an increase of 148.91%.

The Boursa indices continued its positive performance being witnessing for few weeks, supported by the clear purchasing activity on many listed stocks of leading and small-cap ones, in light of the noticeable increase recorded by the cash liquidity and the trading value which reached its highest level in around two years, and was positively reflected on the three Boursa indices, especially the Price Index that was able to break the 6,000 point level up during the last week, to end it at its highest level since August 2015, with gains up to 4.47% by the end of the week.

The Boursa initiated its first sessions of the week with good increase for the three indices, affected by the strong purchasing operations that included many listed stocks in the market.  The Boursa achieved such performance amid a clear growth in the trading activity on both the liquidity and the volume levels, where the value increased by about 30% by the end of the session, and the volume grew by approximately 25%. The Boursa continued recording gains amid a continued improvement of many traders’ morale that encouraged them to execute purchasing operations, among a continued increase in the trading indicators for the second session of the week, where the value reached about KD 43 million, up by 44% compared to the previous session, and the volume recorded an increase of 43% after it reached around 574 million share.

In the mid-week session, the Boursa witnessed mixed closings for the three indices, where the Price Index continued its upward direction and was able to realize gains of 1.05%, supported by the strong purchasing operations that concentrated on the small-cap stocks, also the Weighted Index was  able to record some increase by the end of the session affected by the purchasing operations witnessed by some mid-cap stocks, while the KSX-15 Index recorded limited loss and closed the session in the red zone affected by the profit collection operations that included some leading and heavy stocks.  On Wednesday’s session, the three Boursa indices returned to close in the green zone, amid a continued activity of the small-cap stocks and the return of the purchasing operations on some leading stocks, especially in the Banks Sector.  On the end of week session, the three Boursa indices returned to fluctuate once again, where the Price and Weighted indices closed the session recording relatively good gains, however the KSX-15 Index went against the current to end the session in the red zone;  such performance came in light of the limited decline in the trading activity , where the volume dropped by about 17% at the end of the session, and the cash liquidity contracted by around 6%.

Moreover, the Boursa was able to add around KD 490 million to its market capitalization during the last five sessions, to reach KD 26.21 billion by the end of last week, up by 1.90% from its level in a week earlier.  The market cap’s gains for the Boursa Kuwait reached since the beginning  of the current year to more than KD 800 million, up by 3.15% compared to its level at end of year 2016, where it reached then KD 25.41 billion.

Sectors’ Indices

All of KSE’s sectors ended last week in the green zone, except Health Care sector as its index declined by 4.39% to end the week’s activity at 1,183.95 points. Last week’s highest gainer was the Technology sector, achieving 16.83% growth rate as its index closed at 717.05 points. Whereas, in the second place, the Financial Services sector’s index closed at 664.49 points recording 7.61% increase. The Real Estate sector came in third as its index achieved 6.39% growth, ending the week at 952.41 points. The  Consumer Goods sector was the least growing as its index closed at 1.134.72 points with a 0.74% increase.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 1.15 billion shares changing hands during last week, representing 41.74% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 33.59% of last week’s total trading volume, with a total of around 925.60 million shares.

On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of around KD 59.04 million or 29.93% of last week’s total market trading value. The Real estate sector took the second place as the sector’s last week turnover was approx KD 40.22 million representing 20.39% of the total market trading value.

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